Terms Used In Kansas Statutes 55-1630

• board: means the Kansas oil and gas resources board as created by this act;

  (c) "first purchaser" means:

  (1) With regard to crude oil, the person to whom title first is transferred beyond the gathering tank or tanks, beyond the facility from which the crude oil was first produced, or both; and

  (2) with regard to natural gas, the person to whom title first is transferred beyond the inlet side of the measurement station from which the natural gas was first produced;

  (d) "independent producer" means a person who complies with both of the following:

  (1) Produces oil or natural gas and is not engaged in refining either product; and

  (2) derives a majority of income from ownership in properties producing oil or natural gas;

  (e) "interest owner" means a person who owns or possesses an oil or gas leasehold interest in the gross production of oil or natural gas produced from a well in Kansas. See Kansas Statutes 55-1626

• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.